Goods and services

Goods and services

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Economics review​

Things people buy to use or consume. They can be needs or wants.

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What are goods?

Work someone does for others (consumers).

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What are services?

Examples of goods

• clothes

• food

• toys

• slippers

• pencils

• jewelry

• ice cream​

Different kinds of services

• teaching (teacher)

• banking (bank teller)

• checking people​ (nurse and doctor)

• ​house cleaning

• fixing cars (mechanic)​